March 5, 2019 – The Debtors notified [Docket No. 294] the Court that further to an existing bidding procedures order [Docket No. 199], the Debtors had selected SB360 Capital Partner, LLC (“SB360”) as the successful bidder in an auction of the Debtors’ inventory assets held on March 5, 2019. SB360 outbid a joint venture composed…

March 5, 2019 − Quinn Emanuel Urquhart & Sullivan has added restructuring partners Patricia (“Patty”) Tomasco to its Houston office and Deborah Newman to it New York office. Ms. Tomasco, who joins from Jackson Walker’s Houston office, has more than 30 years’ experience solving corporate insolvency problems. She focuses on workouts, distressed acquisitions and corporate…

March 5, 2019 – The Debtors’ Official Committee of Unsecured Creditors (the “Creditors Committee”) objected to the Debtors’ motion for (i) the appointment of an independent director (the “Investigation Motion”) and (ii) the retention of Kirkland & Ellis as counsel to the independent director [Docket No. 498]. The Debtors’ Official Committee of Equity Security Holders…

March 5, 2019 − Diesel USA Inc. ("Diesel USA" or the "Company") filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-10432. The Company, a wholly-owned subsidiary of Italy’s Diesel S.p.A. (the "Parent") and the United States member of the international Diesel brand family of companies,…

March 4, 2019 – The Court hearing the Gymboree Group cases issued a pair of orders approving (i) the sale of assets related to the Debtors' Janie and Jack® business to The Gap, Inc. (the “JJ Successful Bidder” or “The Gap”) for $35.0mn [Docket No. 484] and (ii) the sale of certain intellectual property assets…

March 1, 2019 – Stretto, a market-leading bankruptcy-technology firm serving the corporate-restructuring and consumer-bankruptcy industries, has acquired CINgroup® and its Best Case® Bankruptcy/CINcompass® software and data-services platforms.   In a press release announcing the acquisition, Stretto commented, “CINgroup, including Best Case Bankruptcy, CINcompass and CIN Legal Data Services®, represent the leading brands in bankruptcy.  Serving…

March 4, 2019 − Magnum Construction Management (f/k/a Munilla Construction Management, “MCM” or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Florida, lead case number 19-12821. The Company, a family-owned, Miami-based, construction company specializing in heavy civil construction, is represented by Jordi Guso of Berger Singerman…

March 1, 2019 – The Court hearing the Synergy Pharmaceuticals case issued an order [Docket No. 484] approving (i) the sale of substantially all of the Debtors' assets (the "Acquired Assets") to Bausch Health (“BH”) for total consideration of approximately $200mn and (ii) the revised asset purchase agreement (the “APA”), dated January 4, 2019, between…